Form 990 for tax year 2022
Filed by CENTRE FOR HOME OWNERSHIP & ECONOMIC DEVELOPMENT CORPORATION I.
Totals
- Total revenue
- $1,111,973
- Total expenses
- $764,268
- Contributions and grants received
- $862,292
- Grants paid
- $42,733
- Program service revenue
- $55,367
- Investment income
- $194,116
- Other revenue
- $198
- Total assets, end of year
- $1,002,739
- Total liabilities, end of year
- $350,543
- Net assets or fund balances, end of year
- $652,196
- Program services expenses (Part IX)
- $575,530
- Management and general expenses
- $158,023
- Fundraising expenses
- $30,715
- Program service expenses (Part III)
- $575,530
Program services were 75.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$737,207
-
1f · All other contributions, gifts and grants
$125,085
-
2a · Program service revenue: PROGRAM INCOME
total $43,392 · related or exempt $43,392
-
2b · Program service revenue: RENTAL INCOME
total $11,975 · related or exempt $11,975
-
7a · Gross sales of assets other than inventory
other assets $260,000
-
7b · Less cost or other basis and sales expenses
other assets $65,884
-
7c · Gain or loss
other assets $194,116
-
7d · Net gain or loss
total $194,116 · excluded $194,116
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $198 · related or exempt $198
-
11e · Other revenue, total
$198
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $42,733 · program services $42,733
-
5 · Compensation of officers, directors and key employees
total $118,900 · program services $89,175 · management and general $17,835 · fundraising $11,890
-
7 · Other salaries and wages
total $137,619 · program services $103,214 · management and general $20,643 · fundraising $13,762
-
10 · Payroll taxes
total $8,811 · program services $6,608 · management and general $1,322 · fundraising $881
-
11a · Fees: management
total $173,534 · program services $173,534
-
11b · Fees: legal
total $16,000 · management and general $16,000
-
11c · Fees: accounting
total $13,855 · management and general $13,855
-
12 · Advertising and promotion
total $13,508 · program services $11,482 · management and general $2,026
-
13 · Office expenses
total $19,794 · program services $15,835 · management and general $2,969 · fundraising $990
-
16 · Occupancy
total $44,848 · program services $35,879 · management and general $6,727 · fundraising $2,242
-
17 · Travel
total $279 · program services $223 · management and general $42 · fundraising $14
-
20 · Interest
total $7,301 · management and general $7,301
-
22 · Depreciation, depletion and amortization
total $9,591 · program services $7,672 · management and general $1,439 · fundraising $480
-
23 · Insurance
total $5,871 · program services $4,696 · management and general $881 · fundraising $294
-
24a · Other expenses: MISCELLANEOUS
total $46,415 · program services $2,613 · management and general $43,640 · fundraising $162
-
24b · Other expenses: USDA EXPENSES
total $41,936 · program services $41,936
-
24c · Other expenses: TRAINING
total $24,796 · program services $24,796
-
24d · Other expenses: FEES AND DUES
total $21,661 · management and general $21,661
-
24e · All other expenses
total $16,816 · program services $15,134 · management and general $1,682
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $267,305 · end of year $718,537
-
2 · Savings and temporary cash investments
beginning of year $14,004 · end of year $14,005
-
3 · Pledges and grants receivable
beginning of year $127,641 · end of year $68,309
-
4 · Accounts receivable
beginning of year $647 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$270,781
-
10b · Land, buildings and equipment: accumulated depreciation
$93,890
-
10c · Land, buildings and equipment, net
beginning of year $252,365 · end of year $176,891
-
15 · Other assets
beginning of year $43,150 · end of year $24,997
-
17 · Accounts payable and accrued expenses
beginning of year $30,070 · end of year $31,797
-
23 · Secured mortgages and notes payable
beginning of year $220,551 · end of year $149,267
-
24 · Unsecured notes and loans payable
beginning of year $150,000 · end of year $144,407
-
25 · Other liabilities
beginning of year $0 · end of year $25,072
-
27 · Net assets without donor restrictions
beginning of year $234,799 · end of year $165,608
-
28 · Net assets with donor restrictions
beginning of year $69,692 · end of year $486,588
Mission and programs · 2022
Mission
TO ENRICH AND EDUCATE LIVES BY PROVIDING HOUSING COUNSELING SERVICES, FINANCIAL LITERACY, HOME OWNERSHIP OPPORTUNITIES, JOB SERVICES, BUSINESS SOLUTIONS AND ECONOMIC DEVELOPMENT.
Activities or mission (Part I)
TO ENRICH AND EDUCATE LIVES BY PROVIDING HOUSING COUNSELING SERVICES, FINANCIAL LITERACY, HOMEOWNERSHIP OPPORTUNITIES, JOB SERVICES, BUSINESS SOLUTIONS, AND ECONOMIC DEVELOPMENT.
-
WE PROVIDE SERVICES THAT SUPPORT INNOVATIVE APPROACHES IN BOTH URBAN AND RURAL COMMUNITIES THAT FOCUS ON HEALTH AND WELLNESS, ECONOMIC STABILITY, AFFORDABLE HOUSING, FINANCIAL INDEPENDENCE, JOBS, BUSINESS DEVELOPMENT, AND SMALL BUSINESS TRAINING. ADDITIONALLY, CHOEDC PROVIDES NON-MEDICAL HOUSING SERVICES UNDER THE HEALTHY OPPORTUNITY PILOT PROGRAM AND PROVIDES MENTAL HEALTH CARE, SUBSTANCE ABUSE COUNSELING, AND PEER SUPPORT COUNSELING IN FIVE (5) CATCHMENT AREAS THROUGHOUT NORTH CAROLINA.
Expenses $575,530 · Grants $42,733 · Revenue $55,565
As filed on the 2022 return.
Listed in Part VII
-
STEVE DRAKE
BOARD CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
JASON HARRIS
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
DARON SATTERFIELD
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
ALEX NELSON
ASSISTANT TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
VICKIE FEASTER-FORNVILLE
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
DR PETER MORRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
SHARON MOE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DAISETTE STROUD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MARY MOORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MELVIN WATSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ALFREDO MACIAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DYLAN MACIAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JAMES STROUD
EXECUTIVE DIRECTOR
- Total calculated
- $118,900
- From this org
- $118,900
- From related orgs
- $0
- Other
- $0
- Hours/week
- 55
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349327055
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